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Net Investment in Direct Financing Lease | 12 Months Ended
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Dec. 31, 2018
Net Investment in Direct Financing Lease [Abstract] |
NET INVESTMENT IN DIRECT FINANCING LEASE | 20. NET INVESTMENT IN DIRECT FINANCING LEASE Emera’s net investment in direct financing lease primarily relates to Brunswick Pipeline. The agreement meets the definition of a direct financing capital lease for accounting purposes. The net investment in direct financing lease consists of the sum of the minimum lease payments and residual value net of estimated executory costs and unearned income. The unearned income is recognized in income over the life of the lease using a constant rate of interest equal to the internal rate of return on the lease. Net investment in direct financing lease consists of the following:
As at | December 31 | December 31
millions of Canadian dollars |  | 2018 |  | 2017
Total minimum lease payments to be received | $ | 1,066 | $ | 1,126
Less: amounts representing estimated executory costs |  | (201) |  | (211)
Minimum lease payments receivable | $ | 865 | $ | 915
Estimated residual value of leased property (unguaranteed) |  | 183 |  | 183
Less: unearned finance lease income |  | (564) |  | (609)
Net investment in direct financing lease | $ | 484 | $ | 489
Principal due within one year (included in Receivables and other current assets) |  | 9 |  | 8
Net investment in direct financing lease – long-term | $ | 475 | $ | 481
Future minimum lease payments to be received for the next five years:
For the | Year ended December 31
millions of Canadian dollars | 2019 | 2020 | 2021 | 2022 | 2023
Minimum lease payments to be received | $ | 65 | $ | 65 | $ | 65 | $ | 65 | $ | 64
Less: amounts representing estimated executory costs |  | (12) |  | (12) |  | (12) |  | (12) |  | (12)
Minimum lease payments receivable | $ | 53 | $ | 53 | $ | 53 | $ | 53 | $ | 52

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- Definition The entire disclosure for lessor's leasing arrangements, which includes direct financing, sales type and leveraged leases. Disclosure may include the effect on the balance sheet and the income statement resulting from a change in lease classification for leases that at inception would have been classified differently had guidance been in effect at the inception of the original lease. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 30 -URI http://asc.fasb.org/subtopic&trid=2209026 + Details
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- References No definition available. + Details
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